Telegram raises US$1 billion through bond sales


DUBAI: Telegram has raised over US$1 billion through bond sales to multiple investors, the messaging app’s founder Pavel Durov said on Tuesday (Mar 23).
The funding round included a combined US$150 million investment by Mubadala Investment and Abu Dhabi Catalyst Partners, which is part-owned by the Abu Dhabi state fund.
Although the company did not provide any details about its other investors, Durov said they included “some of the largest and most knowledgeable investors from all over the world.”
The funds would be used to help roll out expansion plans as well as drive its monetisation strategy, which includes premium plans for business users, Durov said.
“Telegram’s user base has reached a critical mass that places it amongst global tech giants,” Mubadala executive Faris Sohail Faris al-Mazrui said in a statement.
Telegram, along with messaging app Signal, have seen an increase in users this year amid privacy concerns with larger rival Facebook-owned WhatsApp. It currently has 500 million monthly active users.
Telegram, already headquartered in the United Arab Emirates, will open a new office in Abu Dhabi following the new investment, Mubadala said. CNA
Source: Reuters

- Video Advertisement -


Please enter your comment!
Please enter your name here